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Samsung Electronics posted record earnings on robust demand for memory chips in 2017

Samsung Electronics has outdone itself again.
The tech titan recorded a huge surge in its fourth quarter profits mainly thanks to rising chip demand.
Cha Sang-mi breaks down the digits for us.
Samsung Electronics says it recorded an operating profit of about 14 billion U.S. dollars for the final quarter of 2017,-- up 64-percent from the year before.
The company's fourth-quarter revenue was around 61-and-a-half billion dollars,... up 23-percent on-year.
Looking at the full year,... the company recorded sales of 223-point-4 billion dollars in 2017, with an operating profit of over 50 billion dollars, nearly double that of the year before, and the best performance in Samsung Electronics' history.
All of this,... over strong demand for memory chips and sales of high-end display panels that go into Apple's iPhone X.
The company's operating profits from its semiconductor businesses came to nearly 33 billion dollars last year, accounting for over 65 percent of the company's total operating profit.
The IT mobile sector, which covers smartphones, made an operating profit of 2-point-6 billion dollars for the fourth quarter, falling from 3 billion in the third quarter on increased marketing costs for smartphones.
As for the prospects for 2018, experts say the strong global chip demand will continue, but OLED profitability could drop in the first quarter due to the off-season in smartphone market.
Cha Sang-mi, Arirang News.